API Awards Stephen I. Chazen 2016 Gold Medal

WASHINGTON, November 14, 2016 — Stephen I. Chazen, who retired earlier this year as chief executive officer of Occidental Petroleum after a more than three decade career in the oil and gas industry, is the recipient of the American Petroleum Institute 2016 Gold Medal for Distinguished Achievement, API's highest honor.

"Steve Chazen is an exceptional leader in the U.S. oil and natural gas industry," API President and CEO Jack Gerard said. "His passion, integrity and advocacy have been a positive force in helping shape America’s 21st century energy renaissance.”

During Chazen's tenure at Occidental Petroleum, he enhanced the company's reputation as an innovative, well-run and socially responsible business. He built a company that is respected for the competency and work ethic of its staff. Mr. Chazen also recommended and implemented the company's acquisition and divestiture strategy, which was a key factor in Occidental's transformation into a major oil and gas company.

Chazen joined Occidental Petroleum in 1994 as Executive Vice President-Corporate Development. He held numerous positions prior to his promotion to President in 2007 and served as Chief Financial Officer and Executive Vice President-Corporate Development from 1999 to 2004, Chief Financial Officer and Senior Executive Vice President from 2004 to 2007, Chief Financial Officer from 2007 to 2010, and Chief Operating Officer from 2010 to 2011.

Before joining Occidental, Mr. Chazen was a Managing Director in Corporate Finance and Mergers and Acquisitions at Merrill Lynch. Mr. Chazen is a former Chairman of the American Petroleum Institute and continues to serve on its board, and he is a member of the National Petroleum Council.

API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 30 million Americans.